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Myriad grants team celebrates securing over €100m for BioInnovate Ireland companies

The Myriad R&D grants team is proud to have smashed our €100 million funding target. That's definitely something to shout about!

Barrie Dowsett

Chief Executive Officer


7 minute read

The grants team at Myriad Associates are pushing on from strength to strength, working to secure huge amounts of innovation funding for companies across Ireland. And 2022 has proven to be one of the most successful years to date, having exceeded our internal target of securing over €100m in grant funding and private investment for BioInnovate Alumni.

What is BioInnovate?

Founded back in 2011 by a network of thought leaders from across Ireland, Europe and the US, BioInnovate leverages a proven Standford BioDesign framework to foster a motivated, highly talented multidisciplinary group of innovators shaping the future of global healthcare. Supported by Enterprise Ireland, it has grown significantly over the last decade.

In the years since, BioInnovate alumni have amassed significant Seed and Series A funding and developed a variety of successful spin out high potential start-ups.

Huge successes

Many BioInnovate companies have benefitted from the team’s expertise to the tune of millions of euros. But there are a couple of recent success stories to mention, with each company benefiting from grants and private investments when working with Myriad.

Loci Orthopaedics

Loci Orthopaedics is a multi-award winning medical device company specialising in the development of orthopaedic technologies to meet unmet clinical needs in the orthopaedics extremities space. Loci Orthopaedics awarded a €2.5m grant followed by a €5m equity investment support from the prestigious EIC Accelerator Programme.

More than 30 million Europeans and 20 million US patients suffer with thumb base joint arthritis. The current market potential is estimated at more than €700m annually and is projected to grow to more than $1 billion in the next five years.

Working with Myriad

“Working with Marc, Lauren, and the team at Myriad has been a pleasure from start to finish. And very successful! Team shows a real commitment to each and every project that they are involved with, and very quickly gains deep and meaningful insights that enable him to work efficiently, and constructively with every team. The team’s success rate in helping companies secure grant and equity funding is unmatched!” - Dr. Brendan Boland, Co-founder CEO of Loci Orthopaedics

Invera Medical

Invera Medical are developing InVera™ - a less-invasive, effective, pain-free and faster minimally invasive endovenous medical device treatment for all chronic venous disease patients.

InVera™ is the world ’s first effective non-thermal medical device to treat varicose veins and venous ulcers, collectively known as chronic venous disease, without harmful side effects.

Chronic venous disease is one of the most common diseases in the developed world, affecting up to 60% of adults over the age of 50. Lifestyle factors including obesity, limited physical activity and standing for long periods increase the likelihood of developing chronic venous disease. Women are at 23% greater risk than men.

Chronic venous disease occurs when the venous wall or valves in the leg veins are not working effectively, making it difficult for blood to return to the heart from the legs, leading to blood pooling in the legs. This lack of blood circulation increases the pressure within veins and damages blood vessels in the skin - making it fragile and easily damaged.

This vessel damage causes venous leg ulcers which are chronic open sores that will not heal without specialist treatment.

 InVera™ uses the body’s natural healing response to treat symptoms allowing all chronic venous disease sufferers receive treatment for the first time.

“Like all deep-tech companies, accessing all sources of diverse capital is crucial to our success at InVera Medical. We've had a 100% success rate for all applications we've worked with Myriad - notably EIC Accelerator grant-first (plus future equity) success in 2021.” - Stephen Cox CEO, Co-Founder at InVera Medical

Could your company be awarded millions in an R&D grant?

Knowing exactly what funding competitions are available when - and to whom - is notoriously difficult. Then of course there’s navigating the strict criteria, before building an application that stands out head and shoulders from the crowd.

At Myriad Associates we specialise in R&D grants across the medical and healthcare sectors. With many years of knowledge and specialism behind us, we pride ourselves on our impressive grant-winning success rate. Working with you to craft a persuasive, highly tuned application, our market-leading team will put your company front and centre in achieving the R&D grant that takes your innovation strategy to the next level.

Millions of euros on non-repayable grant funding could be at stake. Why not see what we can do for you. Contact us on +353 1 566 2001 or send us a message and we'll call you back.

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